Alibaba’s Home Province Issues Guidelines for Recognizing Data as Corporate Asset

What’s new: East China’s Zhejiang province on Tuesday put into force guidelines on how to recognize data as a corporate asset, which could help facilitate the inclusion of the resources into companies’ financial statements, giving investors a better indication of their value.

A company can recognize data resources as assets if they have been obtained from its transactions or other activities, are legally owned or controlled by itself, and bring economic benefits, according to the guidelines put forward by the Zhejiang Provincial Department of Finance.